Bank of New York Mellon Corp Cuts Stake in Thermo Fisher Scientific Inc. (NYSE:TMO)

Bank of New York Mellon Corp trimmed its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 1.1% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 2,528,996 shares of the medical research company's stock after selling 28,201 shares during the quarter. Bank of New York Mellon Corp owned about 0.67% of Thermo Fisher Scientific worth $1,258,428,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Norges Bank purchased a new position in shares of Thermo Fisher Scientific during the 4th quarter valued at about $3,149,754,000. GAMMA Investing LLC raised its holdings in shares of Thermo Fisher Scientific by 60,610.9% during the 1st quarter. GAMMA Investing LLC now owns 2,419,331 shares of the medical research company's stock worth $1,203,859,000 after acquiring an additional 2,415,346 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in shares of Thermo Fisher Scientific by 86.9% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,083,900 shares of the medical research company's stock worth $1,604,338,000 after acquiring an additional 1,433,444 shares in the last quarter. Kovitz Investment Group Partners LLC raised its holdings in shares of Thermo Fisher Scientific by 1,905.4% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 903,232 shares of the medical research company's stock worth $469,889,000 after acquiring an additional 858,193 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Thermo Fisher Scientific during the 4th quarter valued at approximately $377,901,000. 89.23% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Barclays cut their price objective on Thermo Fisher Scientific from $475.00 to $450.00 and set an "equal weight" rating on the stock in a research report on Tuesday, June 24th. Royal Bank Of Canada decreased their price target on Thermo Fisher Scientific from $651.00 to $637.00 and set an "outperform" rating for the company in a research note on Thursday, April 24th. UBS Group cut their price objective on Thermo Fisher Scientific from $715.00 to $500.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Wells Fargo & Company cut their price objective on Thermo Fisher Scientific from $580.00 to $570.00 and set an "overweight" rating on the stock in a report on Thursday, April 24th. Finally, Argus reduced their price target on Thermo Fisher Scientific from $620.00 to $470.00 and set a "buy" rating for the company in a research report on Tuesday, April 29th. Four research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $604.05.

Thermo Fisher Scientific Stock Up 0.1%

NYSE:TMO opened at $428.25 on Friday. The firm has a market capitalization of $161.66 billion, a PE ratio of 25.12, a price-to-earnings-growth ratio of 2.28 and a beta of 0.77. The stock has a 50 day moving average of $409.18 and a 200-day moving average of $479.90. Thermo Fisher Scientific Inc. has a 52 week low of $385.46 and a 52 week high of $627.88. The company has a current ratio of 1.77, a quick ratio of 1.38 and a debt-to-equity ratio of 0.64.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last released its earnings results on Wednesday, April 23rd. The medical research company reported $5.15 earnings per share for the quarter, topping analysts' consensus estimates of $5.10 by $0.05. Thermo Fisher Scientific had a return on equity of 17.15% and a net margin of 15.19%. The firm had revenue of $10.36 billion during the quarter, compared to the consensus estimate of $10.23 billion. During the same period in the prior year, the firm posted $5.11 earnings per share. The firm's revenue for the quarter was up .2% compared to the same quarter last year. Analysts predict that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 13th will be given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 0.40%. The ex-dividend date of this dividend is Friday, June 13th. Thermo Fisher Scientific's payout ratio is 10.09%.

Insider Buying and Selling

In other news, EVP Gianluca Pettiti sold 300 shares of the firm's stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $429.93, for a total value of $128,979.00. Following the sale, the executive vice president directly owned 23,167 shares of the company's stock, valued at approximately $9,960,188.31. This trade represents a 1.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.33% of the stock is owned by insiders.

Thermo Fisher Scientific Profile

Thermo Fisher Scientific Inc provides life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services in the North America, Europe, Asia-Pacific, and internationally. The company's Life Sciences Solutions segment offers reagents, instruments, and consumables for biological and medical research, discovery, and production of drugs and vaccines, as well as diagnosis of infections and diseases; and solutions include biosciences, genetic sciences, and bio production to pharmaceutical, biotechnology, agricultural, clinical, healthcare, academic, and government markets.

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